ISMAIL LAGARDIEN: March could be turning point in global political economy
This is my gut feeling, and we should not ignore our intuition
We approach each new calendar year Janus-faced, reflecting on things past, then look ahead and wonder what dreams may come. That sounds terribly dramatic, but I may be forgiven. My heart and mind are somewhere in Ethiopia … I am going with my gut, with intuition. Actually, intuition is sometimes under-appreciated, especially when there are not very many things left to excite you. I am not the first, and will probably not be the last, person who writes on matters of political economy who would admit to sometimes leading by intuition and instinct. Somewhere in the literature, someone suggested that because of his exploration of intuition and instinct in engaging with rationality in economics, John Maynard Keynes should be regarded as one of the earliest contributors to the field of evolutionary economic psychology. Keynes insisted on keeping reserves of intuition to be applied in the most serious of economics analyses. We should always keep, “at the back of our heads”, he said, the re...
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